the economy on a bit of a see-saw. republicans here say the president having a hard time explaining that. his jobs council expires today. meantime as you noted, the dead ceiling has been extended allowing more borrowing through late may. what congress has not done prevent the big spending cuts coming in march. we'll follow that. >> tracie potts in washington, thanks so much for that. >>> the family of a 5-year-old boy being held captive in alabama say they are, quote, holding on by a thread, waiting for that boy's release. tuesday, 65-year-old jimmy lee dykes is accused of kidnapping the boy and killing the bus driver. ethan is held in an underground bunker and reportedly not been harmed. negotiators have been talking to dykes through a pipe but say there are no signs of progress. >>> it was a dramatic and contentious day of testimony for chuck hagel. nbc's kelly o'donnell has more. >> reporter: john mccain seized on hagel's opposition to the surge in iraq. >> the question is, are we right or wrong, that's a pretty str